1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,040 Speaker 1: Let's take a look at some of the stocks on 5 00:00:18,079 --> 00:00:20,280 Speaker 1: the move today here in Europe. I'm Caroline help get 6 00:00:20,280 --> 00:00:23,279 Speaker 1: alongside Lizzie Burden, and we're joined by Bloomberg's Markets Today 7 00:00:23,400 --> 00:00:27,160 Speaker 1: editor Sam Onstead. Good morning, Sam. So the German reinsurer 8 00:00:27,280 --> 00:00:29,640 Speaker 1: munich Re has dropped quite significantly. 9 00:00:29,760 --> 00:00:34,400 Speaker 3: Why yes, So the results overall, I think broadly met expectations. 10 00:00:34,400 --> 00:00:35,920 Speaker 3: But one thing that's come out of this is something 11 00:00:35,920 --> 00:00:38,720 Speaker 3: that's been mentioned quite a few times across this earning season, 12 00:00:38,960 --> 00:00:42,479 Speaker 3: which is the quality of the of the earnings. So overall, 13 00:00:42,560 --> 00:00:44,360 Speaker 3: the bottom line was boosted by things that are kind 14 00:00:44,400 --> 00:00:46,640 Speaker 3: of out of their control, specifically kind of slightly lower 15 00:00:46,720 --> 00:00:50,440 Speaker 3: natural catastrophe losses. So obviously they have, as all companies do, 16 00:00:50,640 --> 00:00:53,640 Speaker 3: no real control over how many natural catastrophes happen, and 17 00:00:53,680 --> 00:00:56,800 Speaker 3: so that has been mentioned a few times across different sectors. 18 00:00:56,800 --> 00:00:59,480 Speaker 3: That what investors are looking for is that the beats, 19 00:00:59,680 --> 00:01:01,680 Speaker 3: if they there is one, is coming from the core 20 00:01:01,760 --> 00:01:04,520 Speaker 3: operations of a company, and that communicary wasn't the case, 21 00:01:04,880 --> 00:01:06,160 Speaker 3: so a bit of a cut to their guidance and 22 00:01:06,200 --> 00:01:08,880 Speaker 3: means that the insurers are indeed a little bit weaker today. 23 00:01:09,000 --> 00:01:12,520 Speaker 1: Another one that's in the down on zone is Kingspan. 24 00:01:12,720 --> 00:01:16,399 Speaker 1: Just talk us through what the results said and remind 25 00:01:16,440 --> 00:01:17,360 Speaker 1: us what they do. 26 00:01:18,000 --> 00:01:21,959 Speaker 3: Sure's an Irish insulation company. So there are two sides 27 00:01:22,000 --> 00:01:23,520 Speaker 3: to the business. So there's the construction side of the 28 00:01:23,560 --> 00:01:25,160 Speaker 3: business and then there's another side of the business now 29 00:01:25,160 --> 00:01:27,200 Speaker 3: which is doing quite well in making money out of 30 00:01:27,240 --> 00:01:29,840 Speaker 3: data centers and providing in selection to data centers, but 31 00:01:29,880 --> 00:01:32,120 Speaker 3: the main part of the business is still construction. There's 32 00:01:32,160 --> 00:01:34,720 Speaker 3: been weakness there in the underlying markets in the US 33 00:01:34,760 --> 00:01:36,920 Speaker 3: and in Europe, so that has hit them a little bit. 34 00:01:37,240 --> 00:01:39,360 Speaker 3: And then with them as well, there's an interesting thing here. 35 00:01:39,360 --> 00:01:42,280 Speaker 3: So another big trend over only season there has been buybacks. 36 00:01:42,560 --> 00:01:44,880 Speaker 3: They have launched a new buyback program this morning, which 37 00:01:44,959 --> 00:01:46,960 Speaker 3: normally would give shares a bit of a boost. But 38 00:01:47,040 --> 00:01:49,280 Speaker 3: what analyst was saying this morning is that for Kingspan, 39 00:01:49,400 --> 00:01:51,280 Speaker 3: their strategy in the past has always been to use 40 00:01:51,280 --> 00:01:54,440 Speaker 3: their cash for acquisitions and to kind of keep building scale, 41 00:01:54,720 --> 00:01:56,440 Speaker 3: but now they seem to be shifting that and this 42 00:01:56,480 --> 00:01:59,639 Speaker 3: is a buyback program that's over eighteen to twenty four months. 43 00:02:00,040 --> 00:02:02,560 Speaker 3: They now appear to be using that cash for buybacks instead, 44 00:02:02,560 --> 00:02:04,680 Speaker 3: which gives a kind of different indication of both their 45 00:02:04,720 --> 00:02:07,440 Speaker 3: strategy and their view of the broader market. 46 00:02:07,560 --> 00:02:13,320 Speaker 1: Okay, so that on Kingspan. Meanwhile, again for Nova Nordisk shares, 47 00:02:13,560 --> 00:02:16,600 Speaker 1: which is also quite interesting given the pressures in that industry. 48 00:02:16,960 --> 00:02:20,160 Speaker 3: Yeah, I mean, they've had a pretty wild weekly q so, 49 00:02:20,639 --> 00:02:25,560 Speaker 3: you know, a big profit warning yesterday. They also were 50 00:02:25,760 --> 00:02:29,360 Speaker 3: very volatile in markets because of the results that came 51 00:02:29,360 --> 00:02:31,639 Speaker 3: out of Eli Lilly for their weight loss pill. They 52 00:02:31,639 --> 00:02:34,600 Speaker 3: were weaker than expected. That helped Novo Nordisks to rise 53 00:02:34,639 --> 00:02:36,200 Speaker 3: a little bit. You know, these are the two companies 54 00:02:36,200 --> 00:02:38,040 Speaker 3: that are really really competing with each other at the 55 00:02:38,040 --> 00:02:42,040 Speaker 3: top of that the weight loss industry globally. This morning, 56 00:02:42,280 --> 00:02:47,080 Speaker 3: intron Health, an analyst has upgraded their rating on Novo Nordisk, 57 00:02:47,440 --> 00:02:49,440 Speaker 3: saying that that now is likely to be the focus 58 00:02:49,480 --> 00:02:51,520 Speaker 3: this question of who is going to make the most 59 00:02:51,520 --> 00:02:55,760 Speaker 3: effective weight loss pill, and so they think that that overall, 60 00:02:55,840 --> 00:02:57,720 Speaker 3: because the focus is going to move there and the 61 00:02:57,800 --> 00:02:59,919 Speaker 3: results from Lily are a little bit weaker than Nova, 62 00:03:00,040 --> 00:03:01,000 Speaker 3: may well benefit. 63 00:03:00,720 --> 00:03:05,880 Speaker 2: From the stockmover's report from Bloomberg Radio. 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